Arsenal are in the market for a new striker this summer to rival Olivier Giroud for a starting spot ahead of the new season.
The Gunners failed in their bid to sign Jamie Vardy after he signed a new deal at Leicester, while Lyon have this week ruled out the sale of top target Alexandre Lacazette.
But bookmakers BetStars believe Arsene Wenger has finally found his man and have placed Arsenal at 5/4 favourites to sign 25-year-old Yedder.
The uncapped Frenchman has established himself as one of Ligue 1's most prolific goalscorers over the past four seasons, with only Lacazette and Zlatan Ibrahimovic scoring more in that period.
Sevilla have been priced at 5/2 to bring Yedder to La Liga, while Premier League rivals West Ham (9/2), Tottenham (8/1) and Leicester (10/1) are also outsiders for his signature.
“As Arsenal look likely to miss out on Lyon striker Alexander Lacazette, they seem prepared to turn their heads elsewhere and launch a bid for Toulouse striker Wissam Ben Yedder,” said a BetStars spokesman.
“The Gunners are currently clear favourites to sign the Frenchman at 5/4, ahead of Europa League champions Sevilla at 5/2 and Premier League rivals West Ham at 9/2.
"With Arsene Wenger desperate to strengthen his attacking options, don’t be surprised to see Ben Yedder in an Arsenal shirt next season.”